Jupiter Topco LLC Makes New $22.41 Million Investment in Healthcare Services Group, Inc. $HCSG

Jupiter Topco LLC purchased a new stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in the 2nd quarter, HoldingsChannel reports. The firm purchased 912,261 shares of the business services provider’s stock, valued at approximately $22,406,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HCSG. BlackRock Inc. purchased a new position in shares of Healthcare Services Group in the second quarter worth about $279,379,000. Arrowstreet Capital Limited Partnership boosted its holdings in Healthcare Services Group by 454.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,405,952 shares of the business services provider’s stock valued at $26,080,000 after acquiring an additional 1,152,176 shares during the period. Ameriprise Financial Inc. boosted its holdings in Healthcare Services Group by 80.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock valued at $33,354,000 after acquiring an additional 882,213 shares during the period. Palisade Capital Management LP bought a new position in Healthcare Services Group during the 2nd quarter worth approximately $17,845,000. Finally, Bank of New York Mellon Corp bought a new position in Healthcare Services Group during the 2nd quarter worth approximately $10,438,000. 97.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Healthcare Services Group

In other news, COO Andrew Kush sold 15,598 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total transaction of $362,497.52. Following the transaction, the chief operating officer directly owned 22,741 shares of the company’s stock, valued at approximately $528,500.84. The trade was a 40.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

HCSG has been the subject of several recent research reports. Oppenheimer initiated coverage on Healthcare Services Group in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price objective for the company. Wall Street Zen cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group lifted their target price on shares of Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Zacks Research upgraded shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.50.

Healthcare Services Group Price Performance

NASDAQ HCSG opened at $22.44 on Friday. Healthcare Services Group, Inc. has a 1 year low of $15.13 and a 1 year high of $25.75. The stock has a market capitalization of $1.54 billion, a PE ratio of 13.05 and a beta of 0.81. The business’s 50-day moving average is $23.32 and its 200 day moving average is $21.54.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.The business had revenue of $470.81 million during the quarter, compared to analyst estimates of $471.22 million. During the same quarter in the prior year, the company posted ($0.44) EPS. As a group, equities research analysts anticipate that Healthcare Services Group, Inc. will post 1.14 earnings per share for the current year.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.